SIA Engineering Group (SIAEC) has reported a net profit of $83.3 million for the 1HFY2026 ended Sept 30, up 21.1% y-o-y.
For the 2QFY2026, net profit grew 13.5% y-o-y to $40.4 million.
Earnings per share for the 1HFY2026 and 2QFY2026 came in at 7.45 cents and 3.61 cents, up 21.5% and 13.9% y-o-y respectively.
The group reported a revenue of $729 million for the first half of the year which is up 26.5% y-o-y. This is due to robust demand for maintenance repair and overhaul services (MRO).
Group expenditure also increased but at a lower rate of 25.0% y-o-y to $716.0 million, mainly attributed to higher material costs, manpower costs, repair costs and IT system implementation costs, as well as a $4.0 million impairment provision for an underperforming long-term contract.
SIAEC’s operating performance improved by $9.6 million y-o-y to an operating profit of $13.0 million.
See also: Grab raises earnings forecast as new products help fuel demand
Share of profits of associated and joint venture companies also increased 21.7% y-o-y to $71.3 million.
As at Sept 30, equity attributable to owners of the parent was $1,694.6 million, 1.5% lower than the position as at March 31, mainly due to the payment of final dividend for the last financial year and a decrease in the foreign currency translation reserve, partially offset by profits earned during the period.
Total assets, which included a cash balance of $575.2 million, stood at $2,103.1 million as at Sept 30. The decrease of $38.3 million from the position as at March 31 was mainly due to lower cash balances, partially offset by an increase in receivables.
See also: NetLink NBN Trust DPU up 1.1% y-o-y to 2.71 cents for 1HFY2026
Net asset value per share as at Sept 30 was 151.4 cents.
SIAEC has declared an interim dividend of 2.5 cents per share.
The group says that travel demand and passenger traffic growth continue to underpin MRO demand. Its strategic priorities continue to be focused on expanding our presence in Asia-Pacific, expanding capacity and MRO capabilities for next-generation aircraft, and enhancing core services to build operational resilience, agility and competitiveness.
Shares in SIAEC closed 8 cents lower or 2.254% down at $3.47 on Nov 4.
